Gold Prices Dip Amid Rising Treasury Yields
Gold prices fell significantly this Friday, marking a 0.7% decline to $2,614.40 per ounce. February futures mirrored this trend, dropping 0.9% to $2,630.36. Treasury yields surged, driven by the Federal Reserve’s aggressive monetary policy, exerting downward pressure on gold despite a slight dip in the dollar. Discover next movements here.
Festive Season Trading and Market Trends
Gold trading typically slows during the festive season, with reduced economic data releases and policy decisions leading to muted price shifts. While gold faced over 1% losses last week, it managed a modest weekly gain of 0.3%, reflecting the volatility surrounding Fed interest rate forecasts. Will you try to buy gold or crypto for Christmas ?
Gold Prices as Treasury : Impact on Precious Metals
Other precious metals also experienced declines: silver dropped 3.6% to $919.90 an ounce, and platinum slid 1.5% to $29.935. Copper prices, however, rose due to concentrate shortages, highlighting diverging trends within the commodity market.
